As we have previously reported, there are several CFPB enforcement lawsuits pending in which the defendants have filed motions to dismiss based in whole or in part on the argument that subsequent to September 2022, all funding received by the CFPB from the Federal Reserve Board has been unlawfully received. That is a result of the fact that the Federal Reserve System began then to incur substantial losses after September 2022 which continue to this day with no profits being foreseen in the near future.
Data broker National Public Data has filed for bankruptcy, claiming it cannot sustain the mounting financial and reputational damage associated with a major data breach it suffered in December 2023.
Successful digital transactions are an essential part of business. However, that doesn’t mean that all digital payment solutions used to ensure those transactions go through are created equal. “All payment networks sit on a ton of payments data,” Tine Fincioen, executive vice president for digital transformation at Mastercard, told PYMNTS, “but where we differentiate is how we use our data analytics to identify optimization opportunities.”
On October 21, financial technology experts gathered at the Nebraska Innovation Campus in Lincoln, Nebraska, for the second annual Flyover Fintech conference. Hosted by U.S. Representative Mike Flood, R-Neb., the event spotlighted cutting-edge trends in cybersecurity, AI, and digital assets, with panels exploring innovations in Nebraska’s economy and housing sectors. Here’s a look into the key takeaways from the cybersecurity discussions at the conference.
Acting Comptroller of the Currency Michael J. Hsu today discussed the process to identify and address systemic risk during a discussion with the CFA Institute Systemic Risk Council. Mr. Hsu’s written remarks in support of his presentation discussed how frameworks provide a way to think systemically about risk. He also highlighted the need to balance conviction and a bias toward action with awareness for the dynamic nature of markets.
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